An expose of bad businesses and their unethical practices

Although they won’t name the firms involved,  the FBI has begun investigations into fourteen sub-prime mortgage lenders. The number of fraud complaints fielded by the FBI have grown from 3,000 in 2003 to 48,000 on 2007. Neil Power, chief of the FBI economic crimes unit, said that the increase is due "to good old-fashioned greed."

They are zeroing in on cases involving insider trading with changes in property values and on accounting fraud, where they are looking at “housing developers who may have reported cash reserve accounts to reflect falsely inflated values." The number of cases are impressive when you realize that the FBI only investigates cases over $500,000 and most of the investigations involve cases over $1 million.

Kenneth Kaiser, FBI assistant director for the Criminal Investigative Division, said the FBI has developed an initiative focused on subprime mortgage loan fraud and is working with investigators from other federal agencies. Officials identified the states that are the "top 10 mortgage fraud hot spots" as California, New York, Texas, Florida, Georgia, Utah, Illinois, Indiana, Ohio and Michigan. Doing the math, this bunch of Bad Business may involve $37,500,000,000.